Today, companies have access to so much data and information from so many sources that they can easily be overwhelmed by it. The only way to effectively acquire, interpret and leverage useful data in this modern environment is with a strategic approach to business intelligence (BI), competitive intelligence (CI) and knowledge management (KM).
Sometimes collectively referred to as "the strategic triad," BI, CI and KM help businesses sift through valuable industry and company data to make smarter, more informed decisions for business growth and development. They help you forecast trends, minimize risks and stay ahead of competitors.
But these three disciplines are often confused and misused by the companies that invest in them, resulting in dissatisfactory results. In this guide, we'll clear up all of the confusion by:
- Defining what each discipline does
- Highlighting what they have in common
- Illustrating where they differ
- Showcasing how each work together for maximum value to your organization
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- Assess your existing competitive intelligence capabilities
- Outline the desired end-state for your competitive intelligence function
- Strengthen your core competitive intelligence team
- Create recommendations and a competitive intelligence roadmap
- Discuss how to drive a successful implementation of new competitive intelligence processes
- Detail the process for measuring, monitoring, and refining your competitive intelligence function over time
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